v3.22.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
6 Months Ended |
|
|
|
|
Income Statement [Abstract] |
|
|
|
|
Revenues |
$ 666,551
|
$ 575,857
|
$ 1,276,922
|
$ 1,084,540
|
Cost of sales |
(444,246)
|
(384,503)
|
(845,757)
|
(724,003)
|
Gross profit |
222,305
|
191,354
|
431,165
|
360,537
|
Selling, general and administrative expenses |
(105,203)
|
(93,570)
|
(208,269)
|
(174,205)
|
Research and development expenses |
(25,989)
|
(22,263)
|
(49,445)
|
(44,875)
|
Amortization of intangibles |
(9,177)
|
(7,172)
|
(17,994)
|
(15,165)
|
Asset impairments |
0
|
0
|
0
|
(6,995)
|
Operating income |
81,936
|
68,349
|
155,457
|
119,297
|
Interest expense, net |
(11,276)
|
(14,870)
|
(25,687)
|
(30,381)
|
Loss on debt extinguishment |
0
|
0
|
(6,392)
|
0
|
Non-operating pension benefit |
1,070
|
1,445
|
2,270
|
2,129
|
Income from continuing operations before taxes |
71,730
|
54,924
|
125,648
|
91,045
|
Income tax expense |
(13,088)
|
(9,578)
|
(22,910)
|
(16,634)
|
Income from continuing operations |
58,642
|
45,346
|
102,738
|
74,411
|
Loss from discontinued operations, net of tax |
0
|
(1,374)
|
(3,685)
|
(1,698)
|
Loss on disposal of discontinued operations, net of tax |
0
|
0
|
(4,567)
|
0
|
Net income |
58,642
|
43,972
|
94,486
|
72,713
|
Less: Net income attributable to noncontrolling interest |
81
|
208
|
84
|
283
|
Net income attributable to Belden stockholders |
$ 58,561
|
$ 43,764
|
$ 94,402
|
$ 72,430
|
Weighted average number of common shares and equivalents: |
|
|
|
|
Basic (in shares) |
44,252
|
44,759
|
44,535
|
44,717
|
Diluted (in shares) |
44,782
|
45,262
|
45,179
|
45,162
|
Basic income (loss) per share attributable to Belden stockholders: |
|
|
|
|
Continuing operations (in dollars per share) |
$ 1.32
|
$ 1.01
|
$ 2.31
|
$ 1.66
|
Discontinued operations (in dollars per share) |
0
|
(0.03)
|
(0.08)
|
(0.04)
|
Disposal of discontinued operations (in dollars per share) |
0
|
0
|
(0.10)
|
0
|
Net income (in dollars per share) |
1.32
|
0.98
|
2.12
|
1.62
|
Diluted income (loss) per share attributable to Belden stockholders: |
|
|
|
|
Continuing operation (in dollars per share) |
1.31
|
1.00
|
2.27
|
1.64
|
Discontinued operations (in dollars per share) |
0
|
(0.03)
|
(0.08)
|
(0.04)
|
Disposal of discontinued operations (in dollars per share) |
0
|
0
|
(0.10)
|
0
|
Net income (in dollars per share) |
$ 1.31
|
$ 0.97
|
$ 2.09
|
$ 1.60
|
Comprehensive income attributable to Belden |
$ 110,712
|
$ 22,499
|
$ 150,481
|
$ 104,890
|
Common stock dividends declared per share (in dollars per share) |
$ 0.05
|
$ 0.05
|
$ 0.10
|
$ 0.10
|
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